Religions’ Reactions to Financial Realities

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Religions’ Reactions to Financial Realities

By: John A. Baden, Ph.D.
Posted on August 17, 2011 FREE Insights Topics:

Many quite normal people, not just the paranoid, believe America will spiral downward and drown in a sea of debt. The August 5th downgrade of U.S. bonds stoked their fears. Much of the debt problem is based on entitlements, commitments to Social Security, Medicare, Medicaid, and the Prescription Drug Act.

As Rep. Barney Frank of MA said on NPR on August 9th: “I am not going to tell an 80-year-old woman living on $19,000 a year that she gets no cost-of-living, or that a man who has been doing physical labor all his life and is now at a 67-year-old retirement—which is where Social Security will be soon—that he has to work four or five more years.”

Sojourners is a “progressive” religious organization that supports Frank’s position. (Ironically, billionaire atheist George Soros has generously supported Sojourners.) They have recently drafted a letter to President Obama, “A Circle of Protection: Why We Need to Protect Programs for the Poor”.

Sojourners acknowledge our unsustainable deficits—but reject reforms reducing entitlements directed to the poor. “Programs focused on reducing poverty should not be cut.... The budget debate has a central moral dimension. Christians are asking how we protect ‘the least of these.’ ‘What would Jesus cut?’ ‘How do we share sacrifice?’”

There is nothing radical or even unusual in their position. Many, probably most mainline denominations, support similar positions. Sojourners’ leader, Jim Wallis, wants to move the broad religious community into the policy arena. Hence he is mobilizing a diverse nonpartisan movement of Christian leaders to make them “deeply engaged in the budget debate to uphold the principle that low-income people should be protected.”

Few would question Wallis’ goal but his strategy is challenged by a new group, Christians for a Sustainable Economy (CASE). They too sent a letter to President Obama.

While they share identical goals of helping the most unfortunate and poor, their means are diametrically opposed. They question policy outcomes by asking the ecological and economic question “and then what?” What are the logical, practical consequences of policies allegedly designed to help the unfortunate and needy?

Their effort had an unusual origin. It arose from an economic conference involving an ecumenical, indeed disparate, group of religious leaders, mainly Christians and several Jews. They represented a wide philosophical and theological spectrum. Some are allied with the Sojourners, others opposed.

CASE’s letter soliciting signers began, “At one level CASE began with a few of us at a lovely conference in Montana with fresh air, kindred spirits, time to talk and the gift of the idea to join together.... Signatories already include us (Catholics, Protestants, Orthodox) ... (and) many who work alongside the very poor, and so on.”

I find their letter to the President (http://www.case4america.org/cases-letter-to-the-president/) quite remarkable for it reads like one written by respected economists and policy analysts. “We do not need to ‘protect programs for the poor.’ We need to protect the poor themselves. Indeed, sometimes we need to protect them from the very programs that ostensibly serve the poor, but actually demean the poor, undermine their family structures and trap them in poverty, dependency and despair for generations. Such programs are unwise, uncompassionate, and unjust.”

Their text explains, “We believe the poor of this generation and generations to come are best served by policies that promote economic freedom and growth, that encourage productivity and creativity in every able person, and that wisely steward our common resources for generations to come. All Americans—especially the poor—are best served by sustainable economic policies for a free and flourishing society. When creativity and entrepreneurship are rewarded, the yield is an increase of productivity and generosity.”

A decade ago I wrote a column celebrating Nobel Prize economist Milton Friedman’s 90th birthday. Milton was an apostle of responsible prosperity and liberty. While he is gone, his influence lives. CASE’s letter to the President is a sterling example.

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